Downtown's Hotel Plaza Targeted For Redevelopment

JOLIET, IL - With Joliet in the midst of a major downtown revitalization, the city is now turning its attention to the Hotel Plaza, which is at the corner of Clinton and Ottawa Streets, across from the Joliet Public Library.

The redevelopment of the Hotel Plaza comes up for discussion on Tuesday at the city economic development committee. The meeting starts at 5 p.m. at City Hall.

"It cries out as a classic redevelopment opportunity," city economic development director Steve Jones told Joliet Patch. "The building needs work, it needs to be contemporary, it needs a more modern residential mix, 1 and 2 bedrooms are in demand downtown."

A memo authored by Jones and Derek Conley of the city's economic development office states that, "The need for redevelopment at 26 West Clinton Street has been a long-time topic of discussion as it relates to continuing our forward momentum downtown. This feasibility study represents a first step to identify the costs and design elements necessary to achieve a successful transition of the property."

The proposed agreement between the city and the owners calls for using an out of town architectural firm to conduct a feasibility study. The firm would examine the costs of redeveloping the building for upscale millennial housing.

At the moment, there are approximately 20 apartment units that are currently unsuitable for occupancy, the city said.

The city prefers to have most of the entire building utilized for residential. The city's vision for the property also includes commercial or additional retail space occupying the first floor.

"Staff sees a lot of potential in this building and would like to see it fully utilized as market-rate apartments," Conley told Patch, pointing out that the Barber Building on North Chicago Street was already fully leased to working professionals two months before the renovations were completed in April.